NEW YORK (AP) — Verizon is laying off more than 13,000 employees in mass job reductions that arrive as the telecommunications giant says it must “reorient” its entire company.

The jobs cuts began on Thursday, per to a staff memo from Verizon CEO Dan Schulman. In the letter, which was seen by The Associated Press, Schulman said Verizon's current cost structure “limits” the company's ability to invest — pointing particularly to customer experiences.

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